Hsbc Holdings PLC raised its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB - Free Report) by 962.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,779 shares of the savings and loans company's stock after buying an additional 162,850 shares during the quarter. Hsbc Holdings PLC owned 0.42% of Berkshire Hills Bancorp worth $5,077,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in shares of Berkshire Hills Bancorp by 282.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the savings and loans company's stock valued at $31,000 after acquiring an additional 821 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Berkshire Hills Bancorp by 805.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,376 shares of the savings and loans company's stock valued at $39,000 after purchasing an additional 1,224 shares during the period. Russell Investments Group Ltd. grew its position in shares of Berkshire Hills Bancorp by 2,259.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,265 shares of the savings and loans company's stock worth $64,000 after purchasing an additional 2,169 shares in the last quarter. KBC Group NV increased its holdings in shares of Berkshire Hills Bancorp by 57.8% during the fourth quarter. KBC Group NV now owns 2,869 shares of the savings and loans company's stock worth $82,000 after purchasing an additional 1,051 shares during the period. Finally, Plimoth Trust Co. LLC acquired a new stake in shares of Berkshire Hills Bancorp in the fourth quarter valued at approximately $204,000. Institutional investors own 83.07% of the company's stock.
Analyst Ratings Changes
Separately, Royal Bank of Canada reissued a "sector perform" rating and set a $31.00 price target on shares of Berkshire Hills Bancorp in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.13.
View Our Latest Analysis on BHLB
Insider Activity at Berkshire Hills Bancorp
In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total value of $31,528.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.02% of the stock is owned by insiders.
Berkshire Hills Bancorp Price Performance
Shares of BHLB stock traded up $0.54 during trading hours on Friday, reaching $25.63. The company's stock had a trading volume of 351,876 shares, compared to its average volume of 369,588. Berkshire Hills Bancorp, Inc. has a fifty-two week low of $20.76 and a fifty-two week high of $32.36. The firm's 50 day simple moving average is $25.38 and its 200-day simple moving average is $27.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 17.80 and a beta of 0.53.
Berkshire Hills Bancorp (NYSE:BHLB - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. The business had revenue of $110.44 million for the quarter, compared to analyst estimates of $109.71 million. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. Berkshire Hills Bancorp's revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. Sell-side analysts forecast that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current year.
Berkshire Hills Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.81%. Berkshire Hills Bancorp's dividend payout ratio is 29.15%.
About Berkshire Hills Bancorp
(
Free Report)
Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.
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